The price of Ethena (ENA) increases and sinks according to the proposal to integrate Ethhereal Exchange
The price of Ethena (ENA) increases and sinks according to the proposal to integrate Ethhereal Exchange
- The proposal for the integration of Ethhereal Exchange triggered an increase in the ENA price by 20 %.
- The proposal stipulates that 15 % of the future Ethere Governance tokens are assigned to ENA owners.
- The ENA price fell to $ 0.384 after reaching a maximum of $ 0.42 with a high trading volume.
The latest proposal to integrate Ethhereal Exchange into the Ethena network has triggered great excitement in the cryptocurrency community and led to considerable price fluctuations of ethenas native tokens.
The aim of this integration is the introduction of Ethhereal, a decentralized stock exchange (Dex) for the spot and perpetual futures trade, which is connected directly to the reserve management of Ethena and its native stablecoin.proposal for essential integration
The integration promises to increase the benefits and demand for Usde, which, according to Defillama, as the fourth largest stable coin with a market capitalization of $ 2.5 billion, has achieved a permanent place on the market.
A crucial aspect of the proposal is his obligation to assign 15 % of all future Ethhere Governance token to ENA owners. This incentive is intended to ensure the coordination between the Ethhereal team and the Ethena community.
reaction of the Ethena Prize
After the announcement, the dealers reacted quickly to the potential advantages set out in the proposal and let the ENA price increase to an impressive 20 % to a maximum of $ 0.42.
The excitement was reflected in the commercial volumes, which rose by 145 % within 24 hours, which indicates an increased interest and optimism among investors. The appointment market also recorded a clear upswing: the open interest in ENA-Futures rose by over 13 %within four hours.
However, the volatility of the cryptocurrency markets is known and fluctuations are to be expected. At the time of printing, ENA noted at $ 0.384, which is a significant decline in $ 0.42.
Despite these recent break -in, ENA has demonstrated remarkable resistance and recorded an increase of over 81.4 % in the two weeks.
Source: Coinlist.me
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